Crawford avalanche. (Grayling, Mich.) 1879-19??, 1887-12-01
UNCLE SANS FINANCES.
The Surplus Available for Debt Re-
duction During the Fiscal Year
Was gl03, All, 097.
General Sheridan's Annual Report
Postal Statistics-Other Depart
ment Reports.
THE TREASURY.

Synopsis OF the Annual Report OF Treas
urer Hyatt.
The annual report OF James w. Hyatt Treas
urer OF the United States, shows that the rev.
enues OF the Government for the fiscal year
ended June 30, 1857, We're $371, ,403, ,277 ordinary
expenditures. S267 ,932, l79; surplus receipts
available for the reduction OF the public debt,
$40, 7l,O97 As compared with the previous
year the receipts increased 1895. $50 the ex-
penditures SOS, ,449, ,O4l and the surplus revenues
S0,514,3O9. There was an increase In every item
OF revenue, the largest being In the receipts
Wsa ON acen1r ~ Indiana "A and nan
sions, and the largest decrease ON account of
interest on the public debt The recei pts Of the
Postoffice Department amounted to sSl, ,752, ,S47
and the expenditures to S58,563, 1856. The rev.
enues, exclusive of deficiency appropriations,
increased s., 500, 495, and the expenditures 81,
go, ,2i9. The amount drawn from the Treasury
TO make good the deficiencies in the postal
in 1885.
The operations Of the year involved the
redemption Of S127, Oh, $50 in United States
bonds, Of which $47, ,694 200 was ON account Of
the sinking fund the issue OF nearly six hun
dred thousand drafts and checks the redemp-
tion of upwari OF $l93, 100000 In the United
States paper currency and national bank
notes, and the handling Of $192 0OO, 900 in the
United States bonds deposited or withdrawn
by the national banks.
Statements of the assets and Liabilities of the
Treasury are given for the close of the fiscal
year. and for Sept. 80 and Oct. 81, 1887, in COM
largest increase in any item OF assets during
the year erded Sept 30 was S3i. .705, ,625 in gold
coin and bullion, and the largest decrease
e26, ,1i3, 161 in silver dollars and bullion. The
largest increase in tho liabilities was in the
fund for the retirement of the national bank
notes, which ran up from Sj5, ,612. SAT TO S102,-
265,767. The available balance decreased $780,
132, ,524 and the total balance, including frac-
tonal silver and minor coin, fell off $28, y36. .951
During the year ended Oct 81 the gold balance
increased S44 ,322, ,653, the silver balance de-
creased s2i. .2s7 ,772, and the total balance ran
period, exclusive Hf Jths end Of this
obligations held cash, were S3l9, 190, ,965, and
the total liabilities S262. .432, ,260.
The statement Of United States notes out
standing show that between June 30, 1884, and
Sept. 30 1887, the circulation of 81 and 81 notes
ran down from S51, 100000 to SIS, 10000. This
decrease has been made up by changes In other
denominations, the volume OF SIS, $40, and $50
notes increasing about Si3,0O,000. The ship
ments of legal tenders and silver certificates OF
small denominations, together with the in
the fifteen months ended Sept. 80, amounted to
upward of Sl49, 100000, while, In addition, sew
eral million dollars In small gold coins have
been drawn into circulation.
Under the provisions Of the act Of June 8,
1872, certificates of deposit amounting TO $9l,
900, 900 were issued during the fiscal year for
United States notes lodged In the Treasury.
The redemptions in the same period were Si3,-
100000. There remained outstanding June 80
only 50, ,020, 600 which is the least amount shown
at the end Of any fiscal year since the issue be-
gan The Treasurer attributes the limited use
of these certificates at this time to the change
In bank reserves from notes TO coin and the de-
mand for currency caused by business activity
There were no gold certificates issued during
tb;boYse6 VI JcdntrUt ~siS ~ os55Goso lssueu
from November, 1865, there were outstanding at
the close of the year Sl21 4s6.s17, of which 49,,
26l $50 in the treasury and SOL 225 437 in cir
culation. The holdings of the treasury decreased
nearly So, ,0U0, 900 In the year. The amount out
standing Oct. 81 was $132, ,542, 931, of which the
treasury held $50, ,656, 1853.
The silver certificates outstanding at the close
Of the fscal year amounted to S145, ,5l3, $50, an
increase OF nearly 5000 900 in twelve months.
The amount in the treasury fell off in the same
period from nearly SIS 900 900 to So 425 1885, while
the increase in the actual circulation was q lit
tie more than $54, ,000, COO. This increase is due
in part to the demand for small notes arising
from the discontinuance OF. the issue OF legal
tender ones and twos. There was put out dur
ing the year S14 1856 900 in 81 certificates SS,96,
600 in 81 and 81, 100000 in So. The Treasurer be-
lieves that nearly all OF the trade dollars have
been redeemed.
The coinage Of standard silver dollars for the
fiscal year $685. ZIG 81, an increase OF 81, ,3T,
926 over 1886. On Oct. 81 the Treasury held
S2l4 ,532 and there was S02 G25 in circula-
tion. Between June 80, 1886, and Oct 81, 1887,
the fractional silver coin in the Treasury de-
creased from SOS go, ,68 to S24. .46S 135, and the
minor coin from S377, ,8l4 to 400. The l and
cent pieces on hand are not more than suf-
fcient for payments over the counter
The Treasurer calls attention to the rapid de-
crease In the redemptions OF fractional cur
rency and shows by comparison with other
paper issues that larger amount than has
been estimated has probably been lost or de-
stroyed. The amount outstanding June 80, as
shown by the books, was Sl5S22,9U. while the
redemptions for the year were only "a, 123.
The Treasurer renews the recommend ations
Of his predecessors, that all of the postal rove
nues be deposited in the Treasury and be dis
bursed ON the warrants OF the Secretary, and
that tho payment Of Speakers certificates for
salaries and mileage of members Of Congress
be devolved upon disbursing officer.